(PharmaNewsWire.Com, July 22, 2020 ) According to the new market research report "Trocars Market by Product (Disposable, Reusable, Reposable), Tip (Bladeless Trocars, Bladed Trocars, Blunt Trocars, Optical), Application (General Surgery, Urology, Pediatric, Gynecological Surgery), End User (Hospitals) - Global Forecast" published by MarketsandMarkets™.
How the Market Growth looks like and Industry Segmentation?
The Trocars Market is expected to reach USD 762.3 million, at a CAGR of 7.2% during the forecast period.
By product, the trocars market is classified into disposable trocars, reposable trocars, reusable trocars, and accessories. The disposable trocars segment is estimated to command the largest market share in 2018. Their cost-effectiveness, user-friendliness, and safety have resulted in their greater adoption, as compared to reusable trocars.
By tip, trocars market segment segmented into bladeless trocars, optical trocars, blunt trocars, and bladed trocars. In 2018, the disposable trocars segment is estimated to account for largest market share. This is mainly due to the ease of use of bladeless tip trocars, which minimize trauma to the abdominal wall and vessels. Moreover, the ergonomic design of these trocars offers high stability.
Growing preference for minimally invasive surgeries;
The demand for minimally invasive surgeries (MIS) has grown over the years owing to their advantages over conventional surgical techniques. Apart from time and cost reductions, minimally invasive surgeries are also associated with increased safety, decreased scarring, faster recovery, and decreased hospital stay. A news article published on March 25, 2015, in JAMA (Journal of the American Medical Association) stated that research conducted by investigators at Johns Hopkins Medicine (Johns Hopkins University (US)) showed that American hospitals could collectively save between USD 280 million and USD 340 million a year by performing MIS instead of traditional surgeries.
Rising incidence of target conditions for laparoscopic surgery;
Over the last few years, the prevalence and incidences cases of target diseases is increasing across the globe. For instance, according to GLOBOCAN, the number of colorectal cancer cases globally is expected to reach 0.85 million by 2025 from 0.66 million in 2015. The rising incidence of these diseases will correspondingly drive the number of laparoscopic procedures performed. Of these, appendectomies and hysterectomies are the most frequently performed laparoscopic procedures globally.
Based on region, the trocars market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2018, North America is expected to account for the largest share of the global trocars market. The large share can primarily be attributed to the increasing prevalence & incidence of cancer, hernia, and appendicitis. The strong presence of major market players in this region ensures easy access to trocars.
Major Key Players Mapped in Research Report:
Key players in the trocars market include Medtronic (Ireland), Ethicon (US), B. Braun (Germany), Applied Medical (US), Cooper Companies (US), Teleflex (US), ConMed (US), LaproSurge (UK), Purple Surgical (UK), and GENICON (US).
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